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betty
My boys
Member since 5/05 4380 total posts
Name:
Beth
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Preapproval question
How do you go about getting pre approved
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Posted 4/11/06 9:23 AM  |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Preapproval question
You go to a Mortgage broker or bank and give them all the info on the house and how much you will be putting down. Then, they check your credit, get you the best rate and "approve" the potential mortgage. You should get a preapproval letter within 24-48 hours. Good Luck! 
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| Posted 4/11/06 9:52 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Preapproval question
We called Wells Fargo and they did it for us....
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| Posted 4/11/06 9:52 AM |
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Re: Preapproval question
I got preapproval through LendingTree.com, which ended up being a PITA (and I didn't need it anyway), and I also got a preapproval letter from my credit union, which helped us with realtors. We ended up getting the actual mortgage through GMAC (don't remember if we got a preapproval letter from them).
Preapproval really only helps with realtors and showing that you're serious. We didn't secure the actual mortgage till after our offer was accepted, and at that point I was fed up with my credit union, so I decided not to use them, and I began calling around.
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| Posted 4/11/06 9:54 AM |
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betty
My boys
Member since 5/05 4380 total posts
Name:
Beth
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Re: Preapproval question
So when you get pre approved you don't have to use them for your mortgage...so you can basically go anywhere?
Can this be done over the phone or do you have to go in person?
Do you know the cost?
Thank you!!!!
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| Posted 4/11/06 10:07 AM |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: Preapproval question
you can do it over the phone - it is easier i think to do it my computer- bank of america is very easy to do online
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| Posted 4/11/06 10:11 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Preapproval question
We did ours over the phone. You can get it from anyone, you arent under any obligation to use them for the mortgage. However, you dont want you credit checked too many times because it actually lowers your score. Be careful how many people you give your social security number to.
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| Posted 4/11/06 10:12 AM |
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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Re: Preapproval question
Posted by betty
So when you get pre approved you don't have to use them for your mortgage...so you can basically go anywhere?
Can this be done over the phone or do you have to go in person?
Do you know the cost?
Thank you!!!!
You can go anywhere to get pre-approved. You don't need to go through where you were pre-approved for your mortgage.
You can do it over the phone and it doesn't cost anything. I'm a teacher so I went through a union program through Chase.
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| Posted 4/11/06 10:12 AM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Preapproval question
You have FM
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| Posted 4/11/06 11:22 AM |
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Jessee
LIF Adult
Member since 3/06 1260 total posts
Name:
Jessee
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Re: Preapproval question
Do most banks/brokers charge for a pre-approval letter?
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| Posted 7/9/06 10:21 PM |
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